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By Jason Stipp and Jeremy Glaser | 01-22-2016 02:00 PM

Friday Five: Volatility Settles In

The probable drivers of this week's rocky market likely aren't going away anytime soon, but a few bargains are appearing.

Jason Stipp: I'm Jason Stipp for Morningstar. Welcome to The Friday Five, Morningstar's take on five stories in the market this week. Joining me with The Friday Five is Morningstar markets editor Jeremy Glaser.

Jeremy, thanks for being here.

Jeremy Glaser: You're welcome Jason.

Stipp: First up this week, obviously, the volatility continued in the markets. What were some of the drivers this week?

Glaser: Anyone hoping that the volatility we've seen so far this month was going to die down was sorely disappointed this week. The drivers are the same things that we've been talking about. We got a GDP report on China that was below expectations, but not remarkably so. But Bob Johnson, our director of economic analysis, thinks that the markets were hoping to hear more talk of additional stimulus measures, additional things the China government was going to do to help boost the Chinese economy. We didn't hear much of that. I think that got investors somewhat concerned.

We did hear about stimulus measures, actually, from the European Central Bank. They said at their March meeting, they could look at different measures, that they were open to a lot of different things, to try to get the European markets moving again and to make sure they stay insulated from some of these other issues. That had a more of a positive effect.

And also oil remained in very sharp focus. As oil rallied, stocks rallied, and as it fell, stocks fell as well. The market is very focused on what do these lower oil prices mean for the global economy and corporate earnings?

It doesn't seem like this volatility is going away any time soon, given that a lot of these question marks are still very much there. Chinese growth isn't going to correct itself overnight. Oil doesn't seem like it's going to stabilize any time soon. So I think we're going to be in for a wild ride for at least some more time here.

Stipp: One of the big questions we've been asking as the market has moved lower is, are we starting to see any bargains in the market? After some of the volatility this week, is anything starting to look attractive now?

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